For seven decades, China's Communist Party has ruled the world's most populous country. As the country's population crests and begins to shrink, experts say, it will face challenges ranging from supporting the elderly to filling the ranks of its military.
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With the trend expected to continue, the U.N. estimates China’s population will fall from 1.41 billion to about 1.31 billion by 2050 and keep shrinking from there. Experience in Europe and Japan shows how difficult it is to change mindsets and reverse the decline with government incentives and campaigns.
To support this population of retirees, China may increase the retirement age, currently 50-55 for women and 60 for men. “Becoming the workshop of the world... requires a political system that can take advantage of that cheap young labor without much regard for the laborers’ political and civil rights,” Gallagher said.
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